AUDUSD: BEARISH DECENDING TRIANGLE 🔻
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 0.67 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
AUD: The RBA is widely expected to increase rates by 50bps tomorrow, a slightly hawkish move. This could limit significant downside in the AUDUSD in the short term with a brief retrace to the upside, towards the 0.69 level expected toward the "B" area of interest.
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 0.67 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
AUD: The RBA is widely expected to increase rates by 50bps tomorrow, a slightly hawkish move. This could limit significant downside in the AUDUSD in the short term with a brief retrace to the upside, towards the 0.69 level expected toward the "B" area of interest.
Note
Note
AUDUSD:Retested 0.69 & B aoi and dropped +85 pips.
(tradingview.com/x/AjYKWgRe/)
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.